Coflexip Stena Offshore Continues Fleet Modernization

January 4, 2001

Coflexip Stena Offshore reported that its decision to take the vessel FlexService out of commission. The CSO fleet, which is known as one of the largest in the industry - is now comprised of 14 pipelay and subsea construction vessels.

Up until November 12, 2000, FlexService was chartered to Petrobras who, despite the vessel's performance, decided on early termination of the charter initially scheduled for the end of February 2001. Known as the oldest vessel in the fleet, FlexService had spent 60 percent of its life with Petrobras in the Brazilian waters - garnering the first title of the first vessel to lay flexible pipe beyond 1,000 m water depth. Upgraded on a variety of occasions, the 40-year-old vessel has recovered and re-laid more then 5,000 km of flexible pipes and umbilicals.

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